Amend. 50 payoff a bit disappointing

The recent analysis of tax revenues to Colorado community colleges from voter-approved gambling expansion was disappointing but not surprising.

In 2008, 59 percent of voters approved Amendment 50, to increase the allowable size of bets and hours of operation in casinos. Amendment 50 was promoted as a way to help the gambling industry and community colleges at the same time.

A portion of tax increases generated by Amendment 50 changes was dedicated to the state's community colleges. The rest would go to the cities of Black Hawk, Central City and Cripple Creek, and Gilpin and Teller counties. So far, the effort has fallen millions of dollars short of the predicted funding for community colleges.

Before the election, the Colorado Legislative Council estimated that, thanks to Amendment 50, community colleges would get $22 million in 2010-11, $26 million in 2011-12 and $38 million this year. In reality, community colleges received $6.1 million in 2010-11 and

$6.9 million in 2011-12, with a projected $6.7 million for 2012-13. That $19.7 million is a far cry from the projected $86 million for the first three years.

The reason offered for not meeting the tax projections from Amendment 50 is that due to the slow economy, fewer people are venturing to the mountain towns to gamble.

According to the Denver Post, overall state support for community colleges has declined from $143 million in fiscal 2008-09 to $116 million for the current fiscal year.

Ideally, all of Colorado's 14 community college systems, which serve 162,000 students a year, would receive adequate funding from traditional tax sources and add-ons like gambling revenue would not be necessary. But in today's climate, institutions of higher education have to find creative ways to help fund their operations.

Those who warned that the gambling for tax revenue was a risky bet were correct in some respects. But Amendment 50 has added tax revenue as Colorado continues to look for more stable revenue sources to pay for its growing community college system.